Lordstown Motors shares fall on receiving letter from Foxconn alleging agreement breach

Nu Ride

01/05/2023 14:38

** Electric-vehicle startup Lordstown Motors Corp  RIDE.O 
down 13.7% at $0.45
    ** Company says Taiwan's Foxconn alleged in a letter that
Lordstown was in breach of their investment agreement following
a Nasdaq delisting notice
    ** Lordstown says it is in discussions with Foxconn to seek
a resolution
    ** As of last close, Lordstown shares down ~60% YTD

 (Reporting by Vansh Agarwal in Bengaluru)
 ((Vansh.Agarwal@thomsonreuters.com))